1. 10 years ago, John opened a savings account with the Citizens Bank by depositing $10,000. The account pays 5% simple interest. 5 years after his first deposit, he made another deposit of $5,000. What will be the total amount in the account 5 years from now?

2. Elizabeth wishes to buy a $200,000 house in Lexington, KY. She can afford monthly payments up to $1,100. Thirty-year loans are available at 6% interest compounded monthly. If she can make a $20,000 down payment, can she afford to purchase the house?

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